Avangrid (NYSE:AGR) Announces Earnings Results, Beats Estimates By $0.18 EPS

Avangrid (NYSE:AGR) announced its quarterly earnings data on Wednesday. The utilities provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18, Briefing.com reports. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.54 billion. Avangrid had a return on equity of 4.37% and a net margin of 10.80%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS.

Avangrid Trading Up 0.3 %

Shares of NYSE AGR traded up $0.10 during trading on Friday, reaching $36.65. The company had a trading volume of 105,681 shares, compared to its average volume of 912,234. Avangrid has a 12 month low of $27.46 and a 12 month high of $41.22. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 0.48. The stock has a market cap of $14.18 billion, a P/E ratio of 15.82, a PEG ratio of 2.77 and a beta of 0.56. The company’s fifty day moving average price is $34.80 and its 200-day moving average price is $32.61.

Avangrid Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.80%. The ex-dividend date is Friday, May 31st. Avangrid’s dividend payout ratio (DPR) is currently 76.19%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AGR. Mizuho raised their price target on Avangrid from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, January 3rd. Janney Montgomery Scott restated a “sell” rating and set a $35.00 price objective on shares of Avangrid in a report on Friday, March 8th. Wells Fargo & Company increased their target price on shares of Avangrid from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. Finally, StockNews.com raised Avangrid from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $34.75.

Avangrid Company Profile

Avangrid, Inc, an energy services holding company, engages in the regulated energy transmission and distribution, and renewable energy generation businesses in the United States. The company operates through Networks and Renewables segments. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas.